Since the start of this year, speculations around the potential settlement of the lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple Labs have remained volatile. Pro-crypto lawyer Bill Morgan projected that this uncertainty might negatively impact the XRP price.
Current XRP Price Situation
Since the U.S. SEC lawsuit was initiated in December 2020, it has mostly impacted Ripple Labs’ business and the price of XRP. Bill Morgan noted, “The continuing uncertainty about the end or continuation of SEC v Ripple appeal will eventually exert a negative pressure on XRP price.”
At the time of writing, the price of XRP is down 1.67% in 24 hours to $2.29.
Ripple Lawsuit End Imminent
Since taking office in January, new interim U.S. SEC President Mark Uyeda has spearheaded a massive shift in enforcement action. Per his policy shift, the SEC has ended its lawsuit against the Coinbase exchange, which might indicate an upcoming resolution with Ripple.
While the timeline remains unknown, a recent report hinted that lawyers on both sides are working out settlement details.
The ongoing lawsuit between SEC and Ripple introduces significant uncertainty in the market, affecting XRP's price. Despite potential positive changes ahead, market participants remain cautious in their forecasts.
